Fomento Económico Mexicano SAB de CV ADR 2025年年度报告和过渡报告

FORM20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year endedDecember31, 2024Commission file number001-35934 Fomento Económico Mexicano, S.A.B. de C.V.(Exact name of registrant as specified in its charter) Mexican Economic Development, Inc.(Translation of registrant’s name into English) United Mexican States(Jurisdiction of incorporation or organization) General Anaya No. 601 Pte.,Colonia Bella Vista,Monterrey,NL64410Mexico(Address of principal executive offices) Juan F. Fonseca; Tel (52-818)328-6167;investor@femsa.comGeneral Anaya No. 601 Pte.,Colonia Bella Vista,Monterrey,NL64410Mexico(Name, telephone, email and/or facsimile number and address of company contact person) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of each class: American Depositary Shares, eachrepresenting 10 BD Units, and eachBD Unit consisting of one Series BShare, two Series D-B Shares andtwo Series D-L Shares, without parvalue4.375% Senior Notes due 20433.500% Senior Notes due 2050 Securities registered or to be registered pursuant to Section 12(g) of the Act:None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:None Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period coveredby the annual report: BD Units, each consisting of one Series B Share, two Series D-B Shares and two Series D-L Shares, without parvalue. The BD Units represent a total of 2,058,976,447 Series B Shares, 4,117,952,894 Series D-B Shares and4,117,952,894 Series D-L Shares. 2,058,976,4471,417,048,500B Units, each consisting of five Series B Shares without par value. The B Units represent a total of 7,085,242,500Series B Shares. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. ☐No ☒Yes If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant toSection 13 or 15(d) of the Securities Exchange Act of 1934. ☒No Table of Contents Indicate by check mark whether the registrant: (1) has filed all reports required to be file by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports)and (2) has been subject to such filing requirements for the past 90 days. ☒Yes Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files). ☒Yes Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer” and “emerging growth company” in Rule 12b-2 ofthe Exchange Act. Accelerated Filer☐Emerging Growth Company☐ If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if theregistrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards†provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report. ☒Yes If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check market whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing: U.S. GAAP☐International Financial Reporting Standardsas issued by the International Accounting Standards Board☒Other☐ If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registranthas elected to follow. ☐Item 18 ☐Item 17 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the ExchangeAct). ☒No ☐Yes TABLE OF CONTENTS INTRODUCTIONReferencesCurrency Translations and Estima